What Are Your Thoughts Regarding The HAFA Program For Short Sales?

Hope has arrived for the multitude of Phoenix real estate homeowners who allow their homes to slip into foreclosure while never exploring their options on how to avoid foreclosure. I sincerely hope they will take advantage and take the time to educate themselves on the alternatives available to avoid foreclosure.

It’s easy to just walk away and give up – the path of least resistance, for certain. However, the foreclosure haunt continues for years affecting credit, employment and even security clearances. With the advent of HAFA as an additional alternative, foreclosure can be avoided.

Hiding your head in the sand (ostrich mode) is not the answer. It is well worth the time invested to investigate your options, particularly in light of HAFA, which among many other things, provides monetary relocation assistance and eliminates the hovering concern over deficiency judgments when a short payoff has been negotiated.

One of my passions is to inform the public about their options to avoid foreclosure. I setup my Phoenix real estate “Home Rescue Network” website to do just that. Distressed homeowners who have negative equity or who are behind on their mortgage need to take the time to educate themselves. There is a comprehensive list of options to avoid foreclosure available on the site and a questionnaire to help determine eligibility for the new government programs.

I have a National network of experienced brokers and agents around the country I’m able to refer homeowners to. These are experts in their area who can help further educate and help homeowners rescue their homes from the throes of foreclosure. If you’re interested in more no-obligation information about this, you can contact me directly.

Simplifying and streamlining the use of Short Sales will be the result using HAFA’s top features including:

1. Providing incentives (financial) to borrowers, servicers AND investors

2. Elimination of deficiency judgments by requiring servicers to release borrowers of future liability

3. The normally daunting short sale process will be standardized and streamlined by using standard processes, documents and timeframes

4. Complementing HAMP by providing workable alternatives to homeowners who are HAMP eligible

5. Eliminating the need for additional analysis on eligibility by utilizing financial and hardship information collected in conjunction with HAMP

6. Pre-approved short payoff terms prior to listing the property will be allowed

Roughly 24% of all properties with a mortgage (over 11,000,000 homeowners) have negative equity positions with their mortgage. I look forward to the seeing the results HAFA will provide to borrowers in avoiding foreclosure and how the goals of HAFA to standardize the process flow, minimize the performance timelines and standardize documentation of short sales will play out

Want to find out more about HAFA and Avoiding Foreclosure?, then visit Joe Martin’s site on Understanding HAFA for your needs.